Post by Logan on Feb 15, 2016 23:48:59 GMT -6
BRUSSELS, Feb. 15 (UPI) -- Swedish home goods company Ikea is accused of evading more than $1 billion in taxes, a new report said.
The company allegedly conducted "large-scale tax avoidance" between 2009 and 2014, a new report by the Green Party in the European Parliament indicates.
The report alleges Ikea knowingly engaged in profit shifting, or moving billions of euros in profit from highly taxed countries like Britain, France and Germany into subsidiaries or unnamed recipients in countries like Lichtenstein or Luxembourg, where the company would pay little to no taxes.
In 2014, Ikea allegedly avoided $39 million in taxes in Germany, $26 million in France and $13 million in Britain.
Read more: www.upi.com/Business_News/2016/02/15/Ikea-accused-of-evading-more-than-1-billion-in-taxes/5721455528575/?spt=mps&or=9
The company allegedly conducted "large-scale tax avoidance" between 2009 and 2014, a new report by the Green Party in the European Parliament indicates.
The report alleges Ikea knowingly engaged in profit shifting, or moving billions of euros in profit from highly taxed countries like Britain, France and Germany into subsidiaries or unnamed recipients in countries like Lichtenstein or Luxembourg, where the company would pay little to no taxes.
In 2014, Ikea allegedly avoided $39 million in taxes in Germany, $26 million in France and $13 million in Britain.
Read more: www.upi.com/Business_News/2016/02/15/Ikea-accused-of-evading-more-than-1-billion-in-taxes/5721455528575/?spt=mps&or=9